Wall Street closed until Black Friday, GBTC discount narrows on Thanksgiving
Crypto prices were relatively unchanged after rising ahead of the Federal Reserve minutes yesterday.
Bitcoin was trading at $16,538, according to CoinGecko. Ether was changing hands for $1,195. Both tokens had perked ahead of the release on Wednesday before paring gains. Cryptocurrencies, including altcoins, then traded higher after 8 p.m. ET.
Grayscale’s GBTC discount was trading below -40%. The bitcoin trust hit an all-time low discount to NAV of 45% on Monday. The structured product has lifted each day since, despite fears that sister firm Genesis could declare bankruptcy without emergency funding.
With markets closed for the holidays, trading on Wall Street takes a breather today. Markets are open on Black Friday, finishing up at 1 p.m. Eastern. Bond markets in the U.S. are following the same holiday hours.
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Author: Adam Morgan McCarthy